Just 37% Of Women In Developing Countries Have Bank Accounts — And That’s A Big Problem
7:00 pm, April 19th | by Amy Tennery
Yes, to your average person, banks are a giant hassle. Overdraft fees, ATM fees, that weird thing where you can see yourself the way the security camera sees you while you’re standing in line for the teller… let’s just say banks are hardly anyone’s favorite thing.
But a new report from the Bill & Melinda Gates Foundation highlights just how few women worldwide participate in traditional banking — and it shows why that’s a big problem.
First of all, the basics: The report was comprised of a 148-country survey (so not technically the whole world but pretty close). And it found that, of the world’s poor, just a quarter had bank accounts, according to AFP
Surprisingly, though, when the survey looked at women from all income levels (from the poor to the affluent), the rates of participation weren’t much better.
Just 37 percent of women from all economic backgrounds in “developing countries” had bank accounts, while 46 percent of men did, the report found. That means lower levels of financial independence and lost opportunities to accrue credit and interest. Banks — not always terrible.